BlackRock Executive: Bitcoin ETF Holders Shifting from Retail to Institutional Clients

Robert Mitchnick, Head of Digital Assets at BlackRock, stated at the Token2049 event in Dubai that Bitcoin ETF funds are seeing large inflows, and the investor base is shifting from retail to institutional clients. Mitchnick pointed out that initially, ETFs were primarily held by retail clients, including high net worth individuals with holdings exceeding $100 million. However, each quarter sees a gradual decrease in the retail client proportion, while the proportion of institutional and wealth management clients is steadily rising. Regarding altcoin ETFs, he mentioned that market interest is still mainly focused on Bitcoin, as its attributes as a portfolio hedging tool differ from other cryptocurrencies.